now 90 percent of cash position

I don't really mind how far TRY drops (and in fact relish it such that further purchases can be made), because the paper position right now is as irrelevant to me as the daily price of houses and cars that are not for sale...

But I would really hate to see TRY fall victim to an unsolicited takeover at a fraction of its value.

I plan to make at least 200% on TRY in the next few years, and don't want to be short-changed by a opportunistic predator.

And of course, the lower the price goes, the more desperate some people become. Sometimes people think that a 50% or 100% premium to the current price is a good deal.


Time for a buyback, I think. Whilst I am keen for TRY to use its cash to make a prudent acquisition in the gold sector (which will ultimately drive future value), the value of buying back its own shares cannot be ignored at current prices.

For every share bought back at current prices, the cash per share of existing holders increases. Not to mention the greater share of what are very profitable gold operations at times of record prices.

Whatever TRY decide to do, the current price is not a 'stable' price - it encourages something to happen. Let's hope that 'something' is of TRY's choosing...